Investments come in many forms, and one reason to buy life insurance is for long-term financial protection or estate planning. Some of the considerations in the type of investment you make are how old you are, your lifestyle and the amount of money you have to pay for insurance--called the "premium." Generally, if you are taking on more responsibility and your family grows, the need for insurance may exist. The reason you would buy a life insurance policy is that the proceeds from the policy can replace the income lost upon your death. The benefit from the insurance then keeps the burden of debts and expenses off your family after you are gone. The benefits of whole life are the guaranteed death benefit, locking in the premium amount paid and the ability to build cash values that are tax deferred. You can also take loans from the policy, but that will decrease the value of the account.
Whole life insurance provides protection for the entire lifetime of the insured. If the insured lives to the age 100, the company pays the face amount of the policy to the policy owner. Typically, the cash value is created by the accumulation of premiums paid in for the contract and is scheduled to equal the face amount at the policy age of 100. If the insured dies before age 100, the company pays the face amount as a death benefit.
One of the best features is that the cash value and death benefit of a whole life insurance policy are fully exempt from creditors. A bankruptcy or garnishment would not affect it either.
You decide how much coverage you need plus your age will determine how much of a premium you can afford simply, plus factoring in the income your survivors will need, will also be a determining factor.
Final Expense Insurance Is Affordable
Having a Final Expense Insurance policy means you are covered for your entire lifetime and lower, more affordable premiums from $30 on up. It also provides those left behind the means and the ability to pay any remaining expenses or outstanding debts – you can even make bequests!
Flexibility makes Final Expense Life Insurance different from burial protection policies which can only cover the costs of burial.
Final Expense Life policies let you fit the policy coverage to your needs – you choose the amount of coverage you want.
NO MEDICAL EXAMS are needed with Final Expense Life Insurance.
Funeral expenses vary by region and differ in rural or urban areas.
Expenses can be as low as $5,000 or more than $25,000.
Some costs associated with burial include:
Cemetary Plot Casket Headstone and Engraving Funeral Service Wake/Visitation Minister Transportation Legal Fees, probate costs Physician and Hospital bills Debts outstanding Mortgage pay-off, car loans, credit card balances
Final expense insurance is an ideal investment for the aging population. If you are getting into the later years of your life and you are worried about providing enough financial protection for your family at the time of your death, this type of life insurance policy may be a tool to use. Although there are many forms of life insurance today, this particular type offers several key benefits you cannot find otherwise. Plus, it can be one of the most affordable insurance policies available to you.
CONTACT: 937-270-1176 CELL
EMAIL: MALACHI.MASON at YAHOO
IF YOU ARE INTERESTED IN SECURING YOUR FUTURE AND YOUR FAMILY'S FUTURE,
PLEASE CALL 937-270-1176. (MJ MASON), LICENSED INSURANCE AGENT FOR LOCAL AREAS: CINCINNATI, MIDDLETOWN, FRANKLIN, KENTUCKY, INDIANA